Unilever is paying $1.5bn for personal care brand Dr Squatch, as the consumer goods giant places another big bet on male grooming products, after its acquisition of razor subscription service Dollar Shave Club went awry.
The FTSE 100 group announced on Monday that it had agreed to buy Dr Squatch from private equity firm Summit Partners for an undisclosed sum, to shift its portfolio into more upmarket, higher growth areas. Unilever agreed to pay $1.5bn, according to several people familiar with the details.
US-based Dr Squatch makes “natural” soap, deodorants, shampoos and other toiletries that are marketed at men. Its products are sold directly to consumers through its own website and via third-party retailers.
Its growth has been fuelled by viral marketing campaigns and celebrity partnerships, including adverts featuring Hollywood actress Sydney Sweeney in a bubble bath and Mike Tyson in an ice bath.
Fabian Garcia, the head of Unilever’s personal care division, said the brand had built a loyal following with “clever digital engagement strategies.”
